Market value of unquoted preference shares

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....bsp;  "(1) Subject to the provisions of sub-rule (2) the market value of an unquoted preference share of any company shall-            (a) where the preference share is issued before the valuation date at a rate of dividend of not less than eight per cent, be the paid-up value of such share; and        &nbsp....

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....ndicated in the Table below :- THE TABLE Number of accounting years ending on the valuation date or in a case where the accounting year does not end on the valuation date, the number of accounting years ending on a  date, immediately preceding the valuation date, for which no dividend has been paid. Rate of deduction 1 2 Three years Four years Five years Six years a....

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....;         -do-            (b) in the case of a cumulative preference share, one-half of the rates specified in the aforesaid Table.      Explanation.-For the purposes of this rule, "adjusted paid-up value", in relation to a preference share, means an amount which bears to the pa....